The best way to describe a cryptocurrency would be as a medium of exchange meant for exchanging information securely; the entire process of using cryptocurrency is based on different principles and rules of cryptography. The first cryptocurrency that was created and used is Bitcoin; it was created in 2009. After Bitcoin, the world has seen birth of a number of cryptocurrencies; however, still Bitcoin enjoys maximum popularity among online merchants and customers around the globe.

At SiteVela, we have solutions for Bitcoin and all other crypto currencies existing currently. Cryptocurrencies are digital currencies that are not controlled by any particular banking system or country. They enable perfect peer-to-peer mode of money transferring between countries without being trapped in the unavoidable chains of banking fees and exchange rates; so, it’s needless to say that local monetary transactions can also be carried out smoothly using crypto currencies like Bitcoin.

Bitcoin wallets are files containing private keys. The actual client wallet-file of Bitcoin is called wallet.dat. It contains the following:

Although it’s true that physical cryptocurrencies are available (some companies like BitBills and Casascius offer physical Bitcoins), these currencies are designed primarily for being used as digital currencies. According to experts, physical cryptocurrencies are nothing but a kind of novelty. If you want, cryptocurrencies from its original i.e. digital form can be converted into physical dollars just within a few minutes.

For using Bitcoin, you will first need to install your digital wallet; this can be done on your mobile device as well as on a computer. The wallet is an open-source (free) software program; you will need the wallet for generating your Bitcoin addresses. Wallets can be of 3 different types; they are:

For making the transactions secured, the majority of the cryptocurrencies work using public key encryption techniques. The process goes like this: when new cryptocurrency addresses are created, cryptographic key pairs, (each of which includes a unique private key and public key), and long chains of numbers and letters are generated.

Every address possesses its own cryptocurrency balance. So, the only thing you’ll have to do is keeping the required amount of digital currencies in any address of your wallet. Every cryptocurrency transaction gets stored permanently and publicly on the assigned cryptocurrency network. As a result, experts always recommend that cryptocurrency owners create a fresh address for every transaction; this helps in enhancing security and ensuring complete privacy.

Our developers keep on coming up with new applications featuring highly user-friendly and functional ways of trading and investing in Bitcoin (and other crypto currencies). These applications also make the process of managing crypto currencies much simpler for our customers. You can be located in any part of the world our crypto currency applications will be useful for you. Our solutions make sure you get the best trading platform.

Developers at SiteVela work for making crypto currency transaction simple, fun and intuitive. If you are interested to gather further knowledge about our Crypto Currency solutions, get in touch with our developers by dialling our telephone number of emailing us.